Bad News, Good News – Account Status 5/10/2024 (Apex and Precision)
This is my first update since the last update on 5/2/2024—this update will cover since then, which is both bad and good news.
Trading Recap
On Friday, 5/3/2024, I took a breakout trade on the ES, but only on the 25 Precision accounts, and ended up blowing all accounts. What makes that trade particularly frustrating are two things:
- I didn’t take that trade on my Apex because the way the market moved prior to the open, I was not confident I would get a directional move to the long side immediately after RTH open, which is what happened—we opened, moved up and then had a deeper retrace before continuing up (I knew better than to take this trade).
- If I had more drawdown room, the trade would have continued to be successful, but oh well, that’s how things go. Like I’ve said before, the way I trade is very high risk (I am either winning, or blowing accounts).
Below is a backtest of how the strategy SHOULD have worked IF I had more drawdown, as well as a comment to show where the full stop out occurred.
The good news is that I was able to spin up accounts on Precision over the weekend after the loss, but instead of 50K accounts, I opted for 75K accounts to give slightly more drawdown room with minimally more profit target to reach. Because Precision is so new, they don’t have their process as smooth as Apex, Leeloo, or others, so when I was signing up, instead of signing up for 25 accounts, I accidentally signed up for 26 accounts, so we will be tracking those 26 accounts. Starting last week, each Apex account was up approximately $600-630 and the Precision accounts were up about $340-360 per account, for a total between all the accounts +21,902. I am hopeful to qualify the Apex accounts this coming week.
Rithmic / R | Trader™
